JMP Securities Lowers Caesars Entertainment (NASDAQ:CZR) Price Target to $62.00

Caesars Entertainment (NASDAQ:CZR) had its price target decreased by JMP Securities from $65.00 to $62.00 in a report released on Friday, Benzinga reports. JMP Securities currently has a market outperform rating on the stock.

Several other equities analysts have also recently commented on CZR. Stifel Nicolaus reduced their price objective on shares of Caesars Entertainment from $70.00 to $67.00 and set a buy rating for the company in a research note on Thursday, January 18th. JPMorgan Chase & Co. lowered their price objective on Caesars Entertainment from $55.00 to $54.00 and set an overweight rating on the stock in a research report on Tuesday, January 9th. Barclays dropped their price objective on Caesars Entertainment from $67.00 to $65.00 and set an overweight rating for the company in a research note on Wednesday, February 21st. Deutsche Bank Aktiengesellschaft lowered their price target on Caesars Entertainment from $62.00 to $59.00 and set a buy rating on the stock in a report on Friday, April 12th. Finally, Morgan Stanley boosted their price target on shares of Caesars Entertainment from $44.00 to $45.00 and gave the stock an equal weight rating in a research note on Tuesday, April 9th. Five investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of Moderate Buy and an average target price of $57.73.

Caesars Entertainment Trading Up 0.6 %

NASDAQ:CZR opened at $38.42 on Friday. Caesars Entertainment has a 1 year low of $37.71 and a 1 year high of $60.27. The stock’s fifty day moving average price is $41.63 and its two-hundred day moving average price is $43.55. The company has a debt-to-equity ratio of 2.59, a current ratio of 0.76 and a quick ratio of 0.74. The company has a market cap of $8.31 billion, a P/E ratio of 10.58 and a beta of 2.81.

Caesars Entertainment (NASDAQ:CZR) last issued its quarterly earnings data on Tuesday, February 20th. The company reported ($0.34) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.31). The company had revenue of $2.83 billion for the quarter, compared to analysts’ expectations of $2.85 billion. Caesars Entertainment had a return on equity of 4.48% and a net margin of 6.82%. The business’s revenue for the quarter was up .1% on a year-over-year basis. During the same period last year, the company posted ($0.11) EPS. As a group, analysts expect that Caesars Entertainment will post 1.07 EPS for the current year.

Insider Activity at Caesars Entertainment

In related news, Director Michael E. Pegram bought 15,000 shares of the company’s stock in a transaction dated Wednesday, March 6th. The stock was purchased at an average cost of $41.45 per share, with a total value of $621,750.00. Following the transaction, the director now owns 4,612 shares in the company, valued at approximately $191,167.40. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.64% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Caesars Entertainment

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in Caesars Entertainment by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 23,559,890 shares of the company’s stock valued at $1,104,488,000 after purchasing an additional 148,034 shares in the last quarter. Capital World Investors lifted its stake in Caesars Entertainment by 9.1% during the 4th quarter. Capital World Investors now owns 11,024,448 shares of the company’s stock valued at $516,826,000 after acquiring an additional 916,282 shares during the period. HG Vora Capital Management LLC boosted its holdings in shares of Caesars Entertainment by 2.0% during the 4th quarter. HG Vora Capital Management LLC now owns 5,100,000 shares of the company’s stock valued at $239,088,000 after acquiring an additional 100,000 shares during the last quarter. Invesco Ltd. grew its stake in shares of Caesars Entertainment by 8.7% in the third quarter. Invesco Ltd. now owns 3,657,416 shares of the company’s stock worth $169,521,000 after acquiring an additional 293,078 shares during the period. Finally, Norges Bank bought a new position in Caesars Entertainment during the fourth quarter valued at approximately $102,213,000. 91.79% of the stock is owned by hedge funds and other institutional investors.

About Caesars Entertainment

Caesars Entertainment, Inc operates as a gaming and hospitality company. The company owns, leases, or manages domestic properties in 18 states with slot machines, video lottery terminals and e-tables, and hotel rooms, as well as table games, including poker. It also operates and conducts retail and online sports wagering across 31 jurisdictions in North America and operates iGaming in five jurisdictions in North America; sports betting from our retail and online sportsbooks; and other games, such as keno.